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Two properties at North Beacon and Everett streets in Allston would be replaced with a five-story apartment building and a four-story condo building under a letter of intent that Boston-based investment firm Mount Vernon Co. filed recently with the Boston Planning & Development Agency.

The apartment building would be 74 units and priced to the middle of the local market, per the Herald’s Donna Goodison, which likely means pricey but not astronomically so.

The nine condos in the four-story building would be priced from $600 to $700 a square foot—relatively inexpensive for downtown Boston, but perhaps a little pricey for Allston.

The apartments would range from studios to three-bedrooms, and the condos would be one-bedrooms and one-bedroom lofts. There would be 42 parking spaces total, storage for 83 bikes, and a fitness center as well as art gallery space.

Mount Vernon’s proposal would replace a vacant two-family home and a four-family building at the Allston spot, which is near the massive Boston Landing development that continues to unfold. Stay tuned.